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Emotions, Morality and Public Goods: The WTA-WTP Disparity Revisited


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Title: Emotions, Morality and Public Goods: The WTA-WTP Disparity Revisited
Authors: Nilsson, Andreas
Johansson-Stenman, Olof
Biel, Anders
Issue Date: 2006
University: Göteborg University. School of Business, Economics and Law
Extent: 19 pages
92418 bytes
Publication type: Report
Series/Report no.: Working Papers in Economics, nr 193
Keywords: Willingness to pay; Willingness to accept gap; Endowment effect; Emotions; Ethics; Experiments
Abstract: Empirical evidence suggests that people’s maximum willingness to pay for having a good is often substantially lower than their minimum willingness to accept not having it, and that this discrepancy tends to be especially large when valuing public goods. This paper hypothesizes that differences in emotions (e.g. regret) and moral perceptions can account for much of this discrepancy for public goods. A simple, real-money dichotomous-choice experiment is set up to test these hypotheses, which are ... more
ISSN: 1403-2465
URI: http://hdl.handle.net/2077/2728
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